Let's get Frank About Budgeting!

Let’s get Frank About Budgeting!

Post published:August 24, 2018
Post category:Budget / Expenses / Saving / Student Loans

Jump to end for tldr (too long didn’t read)

Let me start off by giving out a link to how I do my budget in excel.

Download this and start saving!

**https://samthesaver.com/product/budget-tracking-in-excel/**

I’ll put some other helpful links at the end as well.

Now I know many of you want to start off tackling that enormous student loan debt, but first, you need a place to start.

Step 1 is budgeting.

Once you can budget and save you can apply that savings to the debt avalanche and get rid of debt!

Now since I bet most of you don’t have much saved this is a must! You need at least 6 months saved as an emergency fund.

So here’s a little homework. Download this budget, or any other you like, track income, savings, expenses, credit card expenses etc. Go back a few months or a year. Do you see any trends?

Do some math, or let the “yellow” cells on my template figure it out for you. Do you meet those criteria?

If not cut down on expenses!

Stop eating out so much, rent a cheaper apartment, get a roommate, you get the idea.

Once you learn to save more, use a high yield account like Capital One 360. And set up auto debits. I automatically save to this from checking as well as auto save to my ROTH IRA.

Once you learn to spend a little on yourself and save a little turn up the gas!

After you have your savings under control, save more! Cut down on expenses, get a side hustle, start a blog!

See my “how to”!

https://samthesaver.com/2018/08/21/create-you-own-blog/

Once you learn to control savings and expenses, tighten that budget, save more, earn more!

To pay down debt fast, use the debt avalanche approach.